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Sudden Wealth

Whether you win the lottery, receive an inheritance or get a big bonus at work, you will need to deal with a lump sum of money on short notice. If you make quick decisions without financial planning, the money could disappear quickly. Planning for sudden wealth includes tax planning, investing and taking a step back to consider how the money can help you reach your financial goals.

Hands raised in the air as money falls down.

From Windfall to Wealth Financial Strategies for Lottery Winners

How financially disciplined can you be, from a budgeting and an investment standpoint? If you were to simply spend down your lottery winnings in five years or invest poorly and earn a very low or negative return, then you may look back and realize an annuity might have been the better financial choice.

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